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VisualMod t1_j9im8g2 wrote

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VisualMod t1_j9im8v3 wrote

>The SEC's new database is a clear violation of privacy and an infringement on the rights of investors. This will allow the government to track and monitor all stock trades, which is a step towards total control over the financial markets. This is bad news for freedom and liberty.

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TheYakster t1_j9imtqs wrote

Private trading companies already do this today and sell your information to foreign governments. So there’s that. We really need EU style privacy laws.

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jopi888 t1_j9in0uy wrote

This is new?? I assumed they already did this.

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darkspd96 t1_j9in6to wrote

Probably datalake, not database, will be far cheaper

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kryptokronix t1_j9iq2if wrote

They might actually feel bad for some of you idiots.

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megdoo2 t1_j9iqcso wrote

They should just track the hedge funds and stop allowing them to manipulate the market

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Inevitable-Till-639 t1_j9ir4b2 wrote

It’s called a blockchain. There your welcome. This will make your job easier.

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papejay88 t1_j9irt22 wrote

Call me ignorant but I had pretty much assumed someone was tracking my trades and putting them in a giant database to use against me if I ever started to be successful. Just another case of the man holding a man down.

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Neopabo2 t1_j9isc3p wrote

T Zero is the only tech they can use, no?

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vacityrocker t1_j9itl03 wrote

The entertainment never stops in this fuckin place

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pandalocox t1_j9ivsyq wrote

Will my -95% on my port be track as well ??

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Bronek0990 t1_j9izlco wrote

Does that mean they can just fill my tax forms for me and just send me a copy?

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L33n1xu5 t1_j9j3ozx wrote

The SEC isn't going to track YOUR trades, they're going to track your broker's trades.

The article is fearmongering making you think this is a bad thing so you can get outraged and ask the SEC to stop monitoring "your" trades. Finally, maybe something will come of this.

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RyHenZen t1_j9j77fh wrote

This how you create a highly regarded AI tool.

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cletus_ t1_j9j8kb0 wrote

I thought after bernie, they might be doing this to some extent if they knew what was good for them. I mean, bernie wasn’t making any trades, this information was plopped in their lap and they didn’t do shit sooooo. Anyway.

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trade_or_bust2023 t1_j9j9x84 wrote

surprised they aren't doing this already but this seems like a class action lawsuit waiting to happen. Great way to bust congresspeople on insider trading though.

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dens09dews t1_j9j9z1e wrote

Aren’t the SEC the ones who could have foiled Madof much earlier with direct evidence provided by Madof and they still fucked it up for decades after that..

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hiricinee t1_j9jaba8 wrote

Can they release my trades to me to make my taxes easier?

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jr1tn t1_j9jbvbf wrote

Replying to Bronek0990 (#1,916,538)

You are kidding, right? You can't even change your address on line on the IRS web site. The WSJ reported this month that the legacy code the IRS uses is so old, they can't even find people that are still alive that know it, since it dates from the 60s and 70s.

−1

TheDreadnought75 t1_j9jcgpg wrote

Maybe they’ll finally crack down on all the insider trading in Congress.

1

OfLittleToNoValue t1_j9jf6dx wrote

Replying to L33n1xu5 (#1,915,896)

This is all hilarious bullshit.

They're acting like knowing I bought spy calls is a threat to my freedom.

This is how the rich convince you to fight things they don't want.

Like how many broke as fuck rednecks do you know with oddly impassioned feelings on estate taxes?

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Rim_World t1_j9jjao5 wrote

We'll just call 99 percent of these trades, "dark pool". It's tracked alright

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tjonesmachine93 t1_j9jmvig wrote

Unless you are trading in a retirement account, the IRS sees all my trades at some point anyway. So who cares?

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EverVig47 t1_j9jn365 wrote

what good is tracking every stock trades when SEC does selective prosecutions.

- Congress - nope.

- Feds - nope.

- daughter of his favorite professor at the university - nope.

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iPigman t1_j9jodm9 wrote

So they can laugh at my bungling of the trades?

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VegaGT-VZ t1_j9jsawv wrote

SEC can barely keep up with actual fraud so WSB's trades are safe

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Rare-ish_Bird t1_j9jsnjg wrote

As long as its just static data analysis and not real time evaluation of my trades, I'm ok with it.

I don't need anyone else telling me I'm regarded.

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whatsariho t1_j9juclk wrote

oh no the SEC will know how regarded I actually am

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goran0707 t1_j9jve4m wrote

So they can see how terrible my trading strategies are!

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natu91 t1_j9jzbdw wrote

They identify the real fortune tellers.

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Bronek0990 t1_j9k66w0 wrote

Replying to jr1tn (#1,916,658)

Yes, I am kidding. There's a snowball's chance in hell that anything the government does makes your life easier.

Even though I'm 90% certain an intern should be able to code some spaghetti that would work for most wsbtards.

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mike_from_here t1_j9k7ir6 wrote

Count on 18,000 database entries for me for a net profit of $.43

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oboshoe t1_j9ka9up wrote

Replying to L33n1xu5 (#1,915,896)

the step from tracking broker trades to individual trades is pretty trivial.

simply require the broker to include a few extra fields to include beneficial owner data.

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RussianCrabMan t1_j9kdk5k wrote

That's actually a good thing... coming from a "Don't Tread on Me Guy" here. Do what needs to be done to keep my brokers accountable for anything fucky wacky happening.

Also, can any cute twinks in PGH hit me up?

0

Temporary-Voice8174 t1_j9kgiov wrote

I’ve received letters from them several times. Asking me if I had a brokers license? Asked me my profession and answered it with domestic Goddess. Never heard back.

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Ok_Teacher_6834 t1_j9kl8mk wrote

Sounds like the sec got hold of an ai to make sense of all the data

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JennItalia269 t1_j9ksgdw wrote

This writer is nearly three years late to the party.

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gaflar t1_j9kxv9n wrote

Perhaps they could store the trades in some sort of chain made up of individual blocks?

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sQGNXXnkceeEfhm t1_j9kz5m2 wrote

HOLY SHIT CAT IS FINALLY HAPPENING?!?!?!

Guys this is really really REALLY GOOD for us, and really really really bad for citadel.

Edit: I seriously cannot believe finra ever allowed this to get finished hahahahahah

Edit 2: the point of CAT is to allow the SEC to reproduce and analyze market conditions after the fact. When the flash crash happened they realized the data to actually understand what actually went down did not exist in enough fidelity.

Edit 3: it also is required to even begin to hold really sophisticated firms available for doing shady things with order flow.

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__Sky_Daddy__ t1_j9l1j3x wrote

So insider trading is still legal u til march. Got it

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1600hazenstreet t1_j9l4zeh wrote

Great, so the SEC will see how regarded I am with my trades.img

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MrBojangles09 t1_j9l5iih wrote

Will they have records of congressional members with inside trading too ?

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mxcain123 t1_j9l89za wrote

CAN THEY TRACK ALL THE FRAUD AND MUNIPULATION AND DARK POOL???????

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Negative-Mood t1_j9lef4c wrote

Replying to L33n1xu5 (#1,915,896)

I love the large volume price swings that happen the day, or days, before news is publicly available. We all know that is insider trading, but SEC rarely does anything about it. Maybe now the will.

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AnonymousLoner1 t1_j9lm314 wrote

Replying to L33n1xu5 (#1,915,896)

You mean like how other laws that's supposed to regulate the big guys somehow get turned against the little guy instead?

They don't even enforce the laws we already have against the big guys, only when it's OUR trades.

Keep hopemongering.

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JeffersonsHat t1_j9lwbky wrote

So we should be bullish on the cloud services the SEC gets.

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Okbutbushdid711 t1_j9m5490 wrote

Replying to Negative-Mood (#1,925,784)

Do you really think the government will become more competent? Theyll probably just have a data center that will have thousands of Petabytes of data in it that will never get looked at until we have quantum computers and the need to target someone

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dumpitdog t1_j9ma1l2 wrote

I would love to see them track your actual basis price so I don't have to figure it out. The government sends me my basis price I'm okay with that. What I'm sick of is the fact that I pay so much taxes and I know a bunch of tax evading assholes that don't. I had to form a corporation just to keep from getting eaten alive by taxes because nobody else pays them.

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Teroch_Tor t1_j9mc1wu wrote

The best way to put a stop to this is to build a bot that can obfuscate the data to the point that it becomes impossible to track anything by making 100s of trades every few seconds, and I mean trades that might gain or lose a few cents

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bgd73 t1_j9mcolf wrote

don't see a problem. SEC actually cares about us, FINRA just regulates the broker.

I like it. SEC getting some authority.

it must be needed. Nobody in the market wants more complexity.

the tech age is incredible however. It must be making it possible.

those claiming privacy.. we are already known anyway, every move.

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Flordamang t1_j9mnna2 wrote

I know a retail trader who was investigated by the SEC after a very lucky trade about a decade ago. There is no way the SEC doesn’t already collect data on transactions. Right now It’s likely only at major price or volatility inflection points. They are probably using ML to catch insider trading now. Quite concerning

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FoxTheory t1_j9mo5k3 wrote

If they don't do this how do they ever catch insider traders lol. I know the cra fucking called me up pretty quick when I didn't file the year I made 48k in the market

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trade_or_bust2023 t1_j9mse1k wrote

Replying to [deleted] (#1,919,813)

no there isn't its just that they seem to get away with it more. There are some members who have been indicted on insider trading. There's a 2012 stock act that purposefully targets members of congress to not trade on insider info even though insider trading was illegal already.

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trade_or_bust2023 t1_j9mt2s6 wrote

Replying to iPigman (#1,918,191)

yeah they are probably going after money laundering. Just seems like it would be very costly and data intensive without enough benefit to be worth it but since its the government they don't really need to make profit. Imagine if they did the same thing for all bank transactions

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t0fus0up t1_j9myyyi wrote

How about trades are recorded on the blockchain ;)

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DesertDouche t1_j9n0i9w wrote

Funny. The biggest violators of insider trading is Congress. They do it blatantly, out in the open.

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https_Big_T t1_j9n25lz wrote

Someone watch Nancy, she might have another trick up her sleeve

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SavannahCalhounSq t1_j9n3qtm wrote

Every year for 'Taxable' accounts the brokerage firms have been reporting every trade. Maybe they are planning to add 401K's, Ira's and Roth's to the reporting requirements. This could f'k me up with all the wash sales I've been hiding by buying back in the wife's account.

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AZ-Trader t1_j9n6ex6 wrote

To anyone who either hacks it or is in the SEC trying to copy my trades. I am not a professional, day trading is risky and 99% of day traders fail. I assume no liability for your guaranteed losses.

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wlidebeest1 t1_j9nghpz wrote

The SEC had to get rid of their porn stash and just realized they could get a goldmine of loss porn to jerk off to instead.

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sescobreezy727 t1_j9nhdcv wrote

Robinhood programming most certainly changed this week.

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Negative-Mood t1_j9nk4kf wrote

Replying to Okbutbushdid711 (#1,928,725)

At least now their agents can use it to investigate reports by whistleblowers and others who notice the behavior. No, I do not believe they will actively monitor for suspicious trading patterns and use the database to actually crack down quickly. Government and bureaucracy moves very slow, and is always at least 10 years behind abuses of technology.

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texasinv t1_j9oirwe wrote

Replying to GenderDimorphism (#1,932,266)

I'll have to ask him. I'd assume yes though, or at least by request because that's often where the most obvious abuse happens. OTC biotech tickers and shit like that surrounding patent approvals and the like.

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texasinv t1_j9oj9en wrote

Replying to kbone213 (#1,934,395)

Nordics maybe? US isn't terrible mind you, at least I've never been shaken down for bribes during a traffic stop like Latin America or SE Asia. Our corruption is more subtle but simultaneously runs deeper via regulatory capture and lobbying. I still agree with "wrong species" though.

2